Mahindra Finance Personal Loan - Rates Dec 2023, EMI, Eligibility, Apply

Mahindra Finance Personal Loan – Apply Online 2022

Personal Loan

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    Mahindra Finance Personal Loan Interest Rates

    Rate of InterestCustomised
    Loan AmountUp to Rs. 3,00,000
    Maximum Tenor3 years
    EMI PaymentThrough ECS, cheque, mobile transfer or cash payment at branch

    Mahindra Finance Personal Loan EMI Calculator

    You can now compare the various personal loan options available at a different rate of interest and repayment facilities using a personal loan EMI calculator online. With the help of using the calculator, you can get to know the EMIs, Interest and Total Amount Payable. It reveals the amount of interest charged on the loan amount you are willing to take. And gives a realistic estimate of the future payments, hence is useful in deciding the loan amount and the tenure. The functioning of this device is quick and simple. The EMI amount is computed in just a few seconds once the details of Loan Amount, Tenure and Rate of Interest are entered into the calculator.

    For your better understanding, below is an example showing the calculations on a loan of ₹3 Lakh taken for a tenure of 3 years at an interest rate of 11% per annum.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 3,00,00011%1₹ 26,514₹ 18,174₹ 3,18,174
    ₹ 3,00,00011%2₹ 13,982₹ 35,576₹ 3,35,576
    ₹ 3,00,00011%3₹ 9822₹ 53,578₹ 3,53,578

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 89,271₹ 28,588₹ 2,10,728
    2₹ 99,601₹ 18,258₹ 1,11,127
    3₹ 1,11,216₹ 6732₹ 0

    Mahindra Finance Personal Loan Eligibility Criteria

    Only the existing Mahindra Finance customers and Mahindra Group employees qualifying the following parameters are eligible for taking the Mahindra Finance personal loan:

    Eligibility Criteria For Existing Mahindra Finance Customers
    Eligibility Criteria For Mahindra Group Employees
    A good repayment track record is mandatory- All confirmed employees of M&M Ltd., or any of its subsidiary companies
    - Should have completed at least two years of service with the organisation
    - Should be between 21 to 58 years of age

    How To Apply for Mahindra Finance Personal Loan

    When it comes to applying for a personal loan in Mahindra Finance, it would not be wrong to say that there are multiple ways to do the same. The applicants can either visit the nearest branch of Mahindra Finance, get in touch with the customer care, opt for an SMS option and last but not the least choose an online medium to apply for this unsecured loan to meet multiple needs. An applicant can choose any medium as per his/her convenience and avail this credit facility in a hassle-free manner.

    You can apply for Mahindra Finance personal loan through a variety of channels and they are as follows:

    • Visit the nearest Mahindra Finance branch
    • Call on 022- 6652 6000
    • SMS ‘MFLOAN’ to 56363
    • Apply Online

    Mahindra Finance Loan Application Form

    The candidates applying online need to fill online application form available on the Mahindra Finance official website. You cannot submit the form until the details in the essential fields are entered. Information in the below- mentioned sections are to be necessarily filled:

    • Personal Details
      • Full Name
      • Date of Birth
      • State
      • City
    • Contact Details
      • Email ID
      • Mobile Number
      • Phone number (if available)
    • Employment Details
      • Type of employment
      • Net Salary
      • Loan amount required

    Documents Required

    • Photographs of the applicant and co- obligant
    • KYC Documents
    • Copy of PAN Card
    • Income proof/proof of profession/bank statements of three months

    Mahindra Finance Personal Loan Application Status

    Once personal loan application has been filled, the dealers will contact you and inform you about the current progress in the processing of the loan. If the lenders are satisfied and find you suitable they will inform you regarding the amount sanctioned and the rate of interest applicable.

    Mahindra Finance Personal Loan Customer Care

    In case you have any concern, query or complaint regarding your personal loan journey with Mahindra Finance, you just need to dial 022 6652 6000 from your mobile or landline. The moment you get in touch with the customer care executives, the team with their years of experience and expertise resolve all your concerns in the least time frame.

    About Mahindra Finance Personal Loan

    Want to renovate your house, organize a grand wedding of your child or travel abroad? If yes, apply for personal loan. The loans are available only for existing Mahindra Finance customers and Mahindra Group employees. The loans are provided at a competitive rate of interest. A customer can avail loan up to ₹3 lakhs for the maximum period of 36 months. Caring for customer’s comfort Mahindra Finance accepts payment of EMI through cheque, ECS, and mobile transfer. You can also pay in cash at the nearest branch.

    Features and Benefits

    • Immediate loan approval
    • Speedy disbursement within 2 days
    • Competitive rate of interest
    • Multiple EMI payment options
    • Loans available up to ₹3,00,000
    • Highly flexible loan tenure
    • Hassle- free documentation

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